Hawthorn's reported $4 million move for GWS defender Harry Perryman might not have the Victorian powerhouse leading the race for the Giants free agent, with interested rival Port Adelaide said to be "ahead of the Hawks".

Both clubs, as well as Adelaide and Essendon, have been tied to the 25-year-old as he weighs up his future with the Giants amid high levels of external interest.

An unrestricted free agent, Perryman can walk to the club of his choosing should the right deal arise, with the Giants unable to stand in his way but would pocket draft compensation for his departure.

A five-year offer from the Hawks revealed this week to be worth in the vicinity of $800,000 per season would likely give the Giants a valuable return for the loss of their Academy graduate.

But while the Hawks have ramped up their chase for Perryman's signature, reportedly having coach Sam Mitchell, recruiter Jarryd Roughead and star forward Dylan Moore meet with the defender in Sydney last week, the Waverley club might not be the frontrunner for his services.

The Hawks are also dealing with St Kilda free agent Josh Battle, who may be viewed as a priority target ahead of Perryman as Hawthorn prepare for a busy off-season.

ADELAIDE, AUSTRALIA - APRIL 07: Stephen Coniglio of the Giants celebrates a goal with teammate Harry Perryman during the 2024 AFL Round 04 match between the Gold Coast SUNS and GWS GIANTS at Adelaide Hills - Mt Barker on April 07, 2024 in Adelaide, Australia. (Photo by Dylan Burns/AFL Photos via Getty Images)

According to 7 News' Mitch Cleary, Port Adelaide are viewed as the club leading the race for Perryman should he leave GWS, with the Hawks potentially placing any big money move toward a raid of Battle.

"I'd have Port ahead of the Hawks at the moment in that race," Cleary told the Tradies Podcast. 

"With Hawthorn, it feels like the money is more there for Battle... I don't think the Hawthorn offer is as significant as ($4 million over five years), but they're definitely in the mix."

The Power have missed out on multiple free agency targets in 2024, with South Australian Will Hayward deciding to remain with Sydney on a long-term deal while Cat Tyson Stengle also recommitted to his club following reported interest from Port Adelaide and others.

The Alberton club is said to be in the mix for Gold Coast forward Ben Ainsworth, who is a restricted free agent this year.

Currently without a first-round draft selection for the 2024 AFL Draft after trading their pick to Fremantle last year, the Power wouldn't need to hand over any draft capital for Ainsworth should the Suns decide against matching an offer from Port Adelaide.

A matched offer from Gold Coast would force a trade however, with the Power currently holding Picks 32, 50 and 73 for this year's count as well as their future selections.